EXHIBIT 11
PLY GEM INDUSTRIES, INC. AND SUBSIDIARIES
SCHEDULE OF COMPUTATION OF NET INCOME PER SHARE
YEAR ENDED DECEMBER 31,
1993 1992
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FULLY FULLY
PRIMARY DILUTED PRIMARY DILUTED
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Weighted average number of
common shares outstanding
during year................... 10,814,000 10,814,000 10,562,483 10,562,483
Excess of weighted average
number of shares issuable upon
exercise of employee stock
options over 20% of shares
outstanding at end of year.... 3,403,000 3,403,000 2,502,741 2,502,741
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Weighted average number of
shares........................ 14,217,000 14,217,000 13,065,224 13,065,224
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Proceeds available to repay
debt:
From exercise of options,
including tax benefits, at
average market price........ $31,541,000 $22,046,854
From exercise of options,
including tax benefits, at
year-end market price....... $28,379,000 $20,230,728
Other........................ 1,360,000 1,360,000 1,538,000 1,538,000
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32,901,000 29,739,000 23,584,854 21,768,728
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Interest saved................. 1,513,000 1,368,000 1,347,335 1,258,344
Other.......................... 198,000 187,000 187,119 184,298
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1,711,000 1,555,000 1,534,454 1,442,642
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Increase to income, net of tax-
es............................ 1,112,000 1,011,000 1,012,740 952,144
Net income as reported......... 9,650,000 9,650,000 6,305,756 6,305,756
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Adjusted net income............ $10,762,000 $10,661,000 $ 7,318,496 $ 7,257,900
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Per share...................... $.76 $.75 $.56 $.56